Sharpening inflation concerns weigh on FTSE 100 retailers August 23, 2022 Sharpening concerns over high inflation triggering a slowdown in consumer spending weighed on London markets today. The capital’s premier FTSE 100 index dropped 0.61 per cent to 7,488.11 points, while the mid-cap domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, fell 0.99 per cent to 19,306.89 points. Retailers [...]
Truss attacked over emergency Budget as she steps up Number 10 preparations August 23, 2022 A close ally of Rishi Sunak attacked Liz Truss today over her plans to hold an emergency Budget in September as the foreign secretary steps up her preparations for entering Number 10. Mel Stride, one of Sunak’s campaign whips, wrote to the Treasury in his role as chair of Westminster’s Treasury Select Committee to say [...]
Next winter’s energy crisis will be even worse, warns forecaster August 23, 2022 Next winter's energy crisis will be even worse than this year, unless the West makes fresh efforts to tame demand.
Inflation will not hit us as much, says boss of airline Play August 23, 2022 Inflation will not hit Icelandic low-cost carrier Play as much as bigger competitors, according to chief executive Birgir Jonsonn. “Some people will not travel because of [the cost of living],” he told City A.M. “But if they do, then I think more people will look for the most economical way of travelling and this is [...]
Amazon feeds its ‘inquisitive appetite’ in healthcare sector with Signify bid August 23, 2022 Amazon looks set to continue its push into healthcare with a bid for Signify Health, which provides in-home health evaluations, in a move long predicted by analysts. The Big Tech firm, competing with rival bidders UnitedHealth Group, CVS Health and Option Care Health, has offered the second highest figure for the company, according to Bloomberg. [...]
US in teeth of ‘deep recession’ in ominous sign for rest of world August 23, 2022 The US is in the teeth of a “deep recession” in an ominous sign for the world’s other largest economies, experts warned after a closely watched survey came in much weaker than expected on Wall Street. S&P Global composite purchasing managers’ index (PMI) dropped to 45 points this month, the lowest in over two years [...]
US buyers of central London property snag ‘discount’ with favourable exchange rates August 23, 2022 US buyers of central London property are snagging an “effect ‘second’ discount” of around 12 per cent thanks to recent exchange rates, according to real estate investment advisory London Central Portfolio. The pound was at its lowest against the dollar since March 2020 this morning. Flats and houses in Mayfair and Marylebone are said to [...]
Fintech lenders have failed to educate FCA on financial crime, says digital bank chief August 23, 2022 Fintech lenders have done a “poor job” of educating the UK’s financial regulators on how to stamp out financial crime as banking has shifted onto digital apps, the chief of Cashplus has said.
Europe’s gas crisis: what does it mean for investors? August 23, 2022 Europe faces high gas prices and potential shortages as supply from Russia dwindles. We ask our investment experts what this means for companies, the energy transition, and the eurozone economy. Europe’s precarious gas supply situation has been a prime focus for markets ever since Russia’s invasion of Ukraine at the end of February. The European [...]
UK house sales up a third as mortgage rates rises spur movers August 23, 2022 Home sales in July were more than a third higher than in the same month last year, making it the most active month in 2022, according to the latest figures from HM Revenue & Customs (HMRC) today. Residential deals hit 110,970 in July, some seven per cent higher than June of this year. However, HMRC cautioned that [...]
